Question
Foster Inc. carries the following debt investments on its books at December 31, 2021, and December 31, 2022. All securities were purchased during 2021. Trading
Foster Inc. carries the following debt investments on its books at December 31, 2021, and December 31, 2022. All securities were purchased during 2021.
| Trading Securities: |
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| Company | Cost | Value, Dec. 31, 2021 | Value, Dec. 31, 2022 |
| A Company | $25,000 | $13,000 | $20,000 |
| B Company | $13,000 | $20,000 | $20,000 |
| C Company | $35,000 | $30,000 | $25,000 |
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| Available-for-Sale Securities: |
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| Company | Cost | Value, Dec. 31, 2021 | Value, Dec. 31, 2022 |
| X Company | $210,000 | $130,000 | $50,000 |
| Y Company | $ 50,000 | $ 60,000 | $70,000 |
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Required:
Prepare the necessary journal entries for Foster on December 31, 2021, and December 31, 2022.
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Budgeting Auditing And Evaluation Functions And Integration In Seven Governments
Authors: Andrew Gray
1st Edition
0765807246, 9780765807243
